Bridgeport Apartments

Bridgeport Apartments is a 28 unit property located in Bridgeport Alabama and is considered part of the Chattanooga Metro. Experience the charm of Bridgeport, AL, a quaint town nestled in a picturesque setting and surrounded by natural beauty. Investors eyeing the Multifamily/Low-Rise/Garden market will appreciate the tranquil lifestyle and sense of community here. The heavy manufacturing presence in the area and nearby Chattanooga creates excellent job opportunities and the town features an excellent school system. Residents can enjoy local attractions such as the Russel Cave National Monument for outdoor adventures, and soak in the town's rich history at the Bridgeport Depot Museum. With easy access to dining, shopping, and entertainment options, the location offers a perfect balance of convenience and serenity. Whether it's exploring the stunning landscapes or embracing the small-town ambiance, Bridgeport is a place where residents can truly feel at home.This asset consists of 28 units, located in Bridgeport Alabama, in the heart of the Chattanooga metro. These apartments feature furnished and unfurnished units. As well as wide variety of great amenities including a courtyard , a pet-friendly environment, and a few minutes drive to local shops. Bridgeport 28 is a multifamily asset located near the border of Alabama and Tennessee, in the town of Bridgeport. This property is an excellent opportunity for investors to adopt an in-place, proven value add strategy that increases rents across the property and pushes the value of the asset to nearly $3,500,000 in 5 years. Current ownership began the implementation of this business plan within the last calendar year and has managed to complete renovations on 10 of the 28 units. Among features included in the renovation process, ownership has implemented LVP flooring, new carpet, new paint, additional bathtub coating, and varied light fixture, cabinetry, and countertop replacement for the units requiring it. Utilizing this strategy, ownership has been able to raise rents for their 2-bedroom units by $100. Comparable rental properties in the area indicate that Bridgeport 28's rent increases are fairly conservative, providing investors with additional opportunities to raise rent near the market average. By completing the renovation strategy implemented by the current ownership, new investors have the opportunity to achieve a 5 Year IRR of 25% and a disposition value of nearly $3,500,000.